Colgate-Palmolive (NYSE:CL) Releases FY 2024 Earnings Guidance

Colgate-Palmolive (NYSE:CL) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 3.550-3.590 for the period, compared to the consensus estimate of 3.580. The company issued revenue guidance of $20.0 billion-$20.4 billion, compared to the consensus revenue estimate of $20.2 billion.

Colgate-Palmolive Trading Down 4.1 %

NYSE:CL traded down $4.13 during mid-day trading on Friday, reaching $95.61. 7,978,868 shares of the company’s stock traded hands, compared to its average volume of 4,350,021. Colgate-Palmolive has a 12-month low of $71.46 and a 12-month high of $109.30. The firm has a market capitalization of $78.44 billion, a price-to-earnings ratio of 30.26, a PEG ratio of 3.54 and a beta of 0.40. The company has a debt-to-equity ratio of 16.90, a current ratio of 1.06 and a quick ratio of 0.70. The company has a 50 day moving average price of $103.15 and a 200-day moving average price of $97.91.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, October 25th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Colgate-Palmolive had a return on equity of 470.19% and a net margin of 14.21%. The company had revenue of $5.03 billion for the quarter, compared to the consensus estimate of $5.01 billion. On average, sell-side analysts predict that Colgate-Palmolive will post 3.57 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be issued a dividend of $0.50 per share. The ex-dividend date is Friday, October 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.09%. Colgate-Palmolive’s dividend payout ratio (DPR) is 63.29%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CL shares. Jefferies Financial Group downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating and reduced their target price for the stock from $103.00 to $95.00 in a report on Wednesday, July 24th. Barclays upped their target price on Colgate-Palmolive from $91.00 to $96.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. Bank of America upped their target price on Colgate-Palmolive from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. TD Cowen upped their price target on Colgate-Palmolive from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Finally, HSBC restated a “hold” rating on shares of Colgate-Palmolive in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $106.00.

Insider Activity

In other news, Director Martina Hundmejean sold 2,313 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $103.86, for a total transaction of $240,228.18. Following the transaction, the director now directly owns 11,755 shares of the company’s stock, valued at $1,220,874.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Martina Hundmejean sold 2,313 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $103.86, for a total value of $240,228.18. Following the transaction, the director now directly owns 11,755 shares of the company’s stock, valued at approximately $1,220,874.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Gregory Malcolm sold 10,533 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $103.10, for a total value of $1,085,952.30. Following the completion of the transaction, the executive vice president now directly owns 10,377 shares in the company, valued at approximately $1,069,868.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,490 shares of company stock valued at $4,486,063 in the last ninety days. 0.34% of the stock is currently owned by company insiders.

About Colgate-Palmolive

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.